Pete's Cycle

Pete's Cycle is a retail startup that has an extensive history, dating back to its founding by Walter C. Leach Sr., also known as Pete, in 1938. The company started as a small repair and manufacturing operation for bicycles and flower boxes during the Great Depression. Over the years, the business expanded its offerings to include motorized vehicles such as Whizzer, Indian motorcycles, AJS, BSA, Matchless, Evinrude outboard engines, Maruchan, Laverda, Lambretta, Bultaco, Vespa, Gillera, American Eagle, Cushman, Honda, Yamaha, Kawasaki, and Suzuki. With the expansion, Pete's Cycle opened several locations, reaching a total of 7 stores specializing in bicycles or motorcycles. The company's growth continued through the involvement of Pete's children, who took over running the business full-time in the 1980s. In April 2000, Pete’s Cycle relocated to a larger store on Bel Air Road in Baltimore after 62 years in its original location. Today, the company is still going strong with three locations, all managed by Pete's 5 children, marking over 75 years in business. With its rich heritage and sustained success, Pete's Cycle presents a compelling investment opportunity in the retail sector. The company's ability to adapt and expand its product range over the years, combined with its long-standing presence in the market, makes it an attractive prospect for venture capital firms seeking stable and established businesses for investment. Overall, Pete's Cycle's track record, reputation, and potential for further growth offer a promising investment opportunity for venture capitalists aiming to diversify their portfolios with a well-established player in the retail industry.